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What
Portion of My Wages Must Go
To Garnishing Debt?
by Jared Wright
If you are in debt, one of the main concerns you may have is that
you will be legally forced to garnish your wages in order to cover your debts.
Firstly, you have to know the laws and regulation of your state since every
state has somewhat different laws. Secondly, it depends on whether your
creditors have taken the matter to court.
Each state has laws stating which property is protected from creditors and
what can be seized. There are some states that do not allow any kind of
garnishment of wages at all.
If a state has legislation allowing it, this legislation will cover the
portion of your wages that are allowed to be garnished, with costs of living
being a major determinant.
There is also a federal regulation regarding wage garnishment and this law
may be followed by some states. Federal debt is not accounted for under these
laws. For example if you happen to live in a state that is against wage
garnishment, your wages can still be garnished for any federal debts owed such
as child support payments or student loans.
Creditors who may seek to have their outstanding debts reduced by
garnishment can include hospitals, debt collectors and credit card companies.
This will usually be in cases where the debt is large enough to warrant the
costs in both time and money of court proceedings.
You can help prevent your wage garnishment by paying bills on time. Filing
for bankruptcy can also provide some wage protection, with Chapter 7 bankruptcy
forcing the immediate cessation of any garnishment proceedings.
Garnishment can only happen when a creditor sues you in a court of law. What
happens is that the court will notify your employer to pay a certain amount of
money directly from your check to the respective creditors.
There is no way for you to escape wage garnishment if your creditors come
after you in Court. The best way to avoid this is to keep up your payments and
if you find this difficult - speak to your creditor before it becomes too late.
Most creditors will listen to you and accept some form of proposal for you to
repay your debt.
Jared Wright is the marketing manager of Clivir.com - A free
learning community site where you can learn more about debt relief related
articles such as
free government debt consolidation and
best debt consolidation companies. |
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